Process Sensing Technologies Sold to DwyerOmega by AEA and Battery Ventures
Deal News | Nov 21, 2024 | Battery Ventures
AEA Investors' Middle Market Private Equity team and Battery Ventures have announced the completion of the sale of Process Sensing Technologies (PST) to DwyerOmega, a global sensor and instrumentation provider. PST, a prominent global provider of advanced measurement and monitoring solutions, offers products that are crucial for maintaining safety, energy efficiency, and quality standards across various industries. Since being acquired by AEA Investors in 2020, PST expanded significantly, enhancing its product offerings, market reach, and operational capabilities under their ownership. Throughout this period, PST achieved notable growth and market share gains, even amidst challenging economic conditions. This strategic arc reflects the successful partnership between AEA, Battery Ventures, and PST's management in cementing PST's market-leading position. DwyerOmega's acquisition marks a new chapter for PST, with potential for further expansion leveraging DwyerOmega's large-scale capabilities.
Sectors
- Industrial Technology
- Private Equity
Geography
- United States – The United States is significant due to the presence of AEA Investors and Battery Ventures, both headquartered there, and PST's expanded operations in North America.
- Europe – Europe is a key geography given PST's presence and expansion during AEA's ownership, and the involvement of AEA Investors' office locations.
Industry
- Industrial Technology – The article connects with the Industrial Technology sector through PST's range of advanced measurement and monitoring solutions, which serve critical functions in numerous industrial applications.
- Private Equity – Private Equity is relevant as the article discusses the acquisition and sale of PST, involving AEA Investors and Battery Ventures, both active participants in this industry.
Financials
- Not disclosed – The transaction details including the sale price of PST were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Process Sensing Technologies | Target company | Company | A global provider of advanced measurement and monitoring solutions for process-critical applications. |
| AEA Investors | Vendor | Company | A private equity firm that managed and invested in PST since 2020 before its sale to DwyerOmega. |
| Battery Ventures | Vendor | Company | A private equity and venture capital firm involved in establishing the PST platform and partnering in its sale. |
| DwyerOmega | Buyer | Company | A global manufacturer and provider of innovative sensors and instrumentation solutions. |
| Adam Markin | CEO of PST | Person | CEO leading PST through the growth phase and transition under AEA and Battery Ventures. |
| Ramzi Gedeon | Partner at AEA MMPE | Person | Partner at AEA Investors involved in PST's strategic growth. |
| Jesse Feldman | General Partner at Battery Ventures | Person | General Partner at Battery Ventures, overseeing their involvement with PST. |